Trade what you see not what you believe

Trading the forex industry is very tricky since it involves an extreme test of the human emotions. Most of the rookie traders in the financial industry fail to make money in the forex market because they don’t know how to trade the market properly. They simply execute their trade in the market based on their emotions. However there some new traders who have some decent knowledge about the financial market yet they fail to achieve success in forex trading since they lose their trading discipline in the hands of emotions after incurring few consecutive losses in the market.

Before you start your trading career in the real market make sure that you develop a strong basic foundation about the forex market. Most of the retail traders in the forex industry jump into financial instrument trading without knowing too much about the forex market. But if you don’t the basics of the forex market then you will never get a chance to become professional traders. To be honest, people severely suffers to make a profit in the market even after having a strong foundation. They simply forget their lesson about the forex market and start trading with their emotions. In the next section of the article, we will discuss how to trade the market with logical reasons and keep our emotions aside.

Stop taking a wild guess in the market: There are many rookie traders in the financial industry who executes their trade based on their wild guess. It’s true that sometimes they will become lucky and earn a good amount by trading but in the long run, they will wipe out their whole trading account. So if you truly want to become an expert forex trader then you need to learn lots of stuff about the forex market. Once you learn them try to implement your knowledge in the demo account. Consider your demo account as real account and try to execute high probability trades in the market.

Don’t spend too much time in trading :Most of the professional traders spend only two-three hours in trading in every single day .They know that trading is not about looking to the chart all day long’s a professional trader they try to filter the best possible trade in the market and execute them with logical reasons. On the contrary, all of the rookie traders always get stuck with their trading account until they blow up their whole deposit. You are bound to make mistakes in the forex market if you spend too much time on the trading screen. Human psychology is made in such a way that it will always try to make a profit. So the rookie trader will have a hard time to control their emotions if they look at the trading chart all day long’s make sure that you are glued to your trading chart since it will make you emotional which will ultimately force you to execute low probability trade in the market. You should be trading the chart not what you believe.

Build strong control over your emotions: Those who are trading the forex market for a long period of time have developed a strong trading discipline and they execute what they see in the chart not what they believe. They know very precisely that if the trade what they believe then they will incur huge losses in the market. To be honest the chart always will have a different opinion on your emotions.

Let’s see how deceptive the emotion can be!

Figure: AUDUSD daily chart

If you consider the dark shaded region then you will always be thinking that the price will go down. Even most of the rookie traders will continuously execute short orders in the market if it goes to significant high. But in reality, the price went up more than expected and you can clearly see it from the chart. So think again whether you take your trading decision on your imagination or you will execute your order in the market based on your technical and fundamental analysis.

If you think that you’re losing control in the market then you should do two things. First of all, you should stop you PC and take a deep breath. After that, you should go out for a walk without any smart device. To be precise you should disconnect yourself from the trading terminal at least for one hour. Most the traders become emotional after incurring some few losses in the market and execute low probability trades based on their emotions. But always remember that you will never succeed in the forex industry if you trade with emotions. Always try to execute your orders based on rational decisions.

Summary: Trading can be extremely difficult if you’re relatively new in this industry. Most of the professional trader who is trading the financial instrument for a long period of time have undergone severe learning stage and they always know the importance of rational decision in the market. It’s true that sometimes the professional traders also become emotional but when they realize that they are getting emotional they always disconnect themselves from their trading room. Make sure that you are always executing your orders in the market by following strict trading strategy. Never ever take any single trade in the market based on your assumptions. Another key thing that you should always remember is the implementation of proper risk management factors. If you don’t follow proper money management then even after executing your order very precise you will make money in this industry. So, proper money management is a must for every professional trader.

Forex Trading News

Forex Research

Daily Forex Market NewsForex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
here.

Forex NewsReal-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."

Are you
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.